LUNA Burn Lottery

Governance & Proposals
1

Incentivise Burning LUNA by establishing a daily lottery:

  • Fixed price entry (example 100,000 LUNA / ticket)

  • Prize is paid as a % of the entire pot (example 30%)

  • Remaining funds sent to a burn address

Prizes:

Since LUNA is pretty much worthless, it doesn’t make sense to give it out as the prize, another currency could be used, such as USDC or Tether - though this does come at the cost of offloading some LUNA on to the market during the conversion. I think the benefit of taking some LUNA out of circulation and having a more attractive prize is a better option than trying to give away something that is worthless, and should incentivise more people to take part (and therefore burning more LUNA)

The numbers I have given a purely for example purposes to keep the maths nice and simple for everyone to understand, and of course will need to be carefully calculated.

With the example shown above:

A single entry is 100,000 LUNA
70,000 is burned
30,000 is held for the prize

4 Likes
2

I’m starting to hate myself for thinking of this proposal as a good idea.

5 Likes
3

Or we use Luna to play the lottery with other luna holders. And so burn. Since now Luna is worthless.

Or we could use LunC as a charity currency. whoever donates to burning wins benefits or airdrops. The value resulting from the LunaC valuation would be used for humanitarian purposes. Starting with Lunac’s victims.

It would be the world’s first philanthropic cryptocurrency.

this would help to recover the image of DK and Terralabs. And to value the Lunac

4

@Clan

Bump this thread and expand the success of the Moonshot Lottery!

https://moonshot.terrarebels.net

Integrate into Terra Station, so existing connected wallets can easily participate.